Research on the Impact of Financial Development on Carbon Emissions: Does Industrial Structure Upgrading Matter?

Shun-Ho Chu (), Yichi Zhang (), Yue Pan, Baoke Fan, Ruohan Wang and Jiameng Gu
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Shun-Ho Chu: Macau University of Science and Technology, School of Business
Yichi Zhang: Macau University of Science and Technology, School of Business
Yue Pan: Macau University of Science and Technology, School of Business
Baoke Fan: Macau University of Science and Technology, School of Business
Ruohan Wang: Macau University of Science and Technology, School of Business
Jiameng Gu: Macau University of Science and Technology, School of Business

A chapter in Proceedings of the 2022 International Conference on Economics, Smart Finance and Contemporary Trade (ESFCT 2022), 2022, pp 1597-1606 from Springer

Abstract: Abstract The purpose of the study tries to investigate the impact of financial development on carbon emissions. In addition, the study also examines the mediating effect of industrial structure upgrading on the relationship between financial development and carbon emissions. Using annual data of 283 cities in China over the period 2006 to 2019, the study employs natural logarithm of carbon emission as dependent variable and credits and deposits scaled by GDP as independent variable to financial development. The study also has mediator of industrial structure upgrading. In addition, the study adds FDI, government spending, fixed investment and population as control variables in estimation regression. The empirical results of the study reveal that financial development has a significant and negative impact on carbon emissions. The study also finds that industrial structure upgrading has a mediating effect on the relationship between financial development and carbon emissions.

Keywords: Financial Development; Carbon Emissions; Industrial Structure Upgrading; Greenhouse Gas Effect (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:spr:advbcp:978-94-6463-052-7_177

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DOI: 10.2991/978-94-6463-052-7_177

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